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2015 (7) TMI 1129 - HC - Income TaxReopening of assessment - whether Assessing Officer ought to have examined the applicability of 2008 Scheme to the Petitioner as required in terms of Rule 18C of Rules while passing assessment order? - Held that:- Rule 18C of the Rules itself provides that the same would apply only to undertaking established after April, 2006 and before March, 2011. In this case, admittedly, the Petitioner was established prior to April, 2006. Prima facie, it appears that 2008 Scheme would not have any application to the Petitioner. Further, the other issue namely income on renting of property should be charged as business income is already dealt with in the Assessment Year. Thus, it prima facie, amounts to a change of opinion. The other objections are factual and the order disposing of the objections not having dealt with the objections, at this stage, it appears to be valid.
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